(Alliance News) - B&M European Value Retail SA on Monday said it intends to offer GBP250 million in sterling-denominated senior secured notes due 2028.
The Luxembourg-headquartered retailer said it intends to use money raised from the notes for general corporate purposes and to pay fees and expenses incurred in connection with the offering.
B&M noted that SSA Investments Sarl - which is beneficially owned by B&M Chief Executive Simon Arora and associates Bobby Arora and Robin Arora - intends to purchase 22.5% of the notes. Settlement of the transaction is expected to take place on or about November 24.
B&M shares were trading 3.7% lower in London on Monday at 577.00 pence each. The wider FTSE 100 index was marginally lower.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
B&M (BME)